Asset · Equipment Finance

Truck finance
for Australian
businesses

We compare 50+ lenders to find the right structure for your situation, whether you're buying your first rig or growing a fleet.

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Pre-approval in as little as 24 hours
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No deposit options available
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50+ lenders compared in one application
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Low doc pathways for self-employed borrowers
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At EasyAsset, truck finance is one of our core specialisations. Whether you’re financing a rigid truck, prime mover, tipper, refrigerated vehicle, or a fleet of light commercials, we work with 50+ lenders to find the right structure for your business. We help clients navigate chattel mortgages, low-doc truck loans, owner-operator finance, and commercial vehicle leasesevery day. If it moves goods and your business depends on it, we can finance it and we'll have an answer for you fast.

Finance options

Which type of truck finance suits your business?

The right structure depends on how you use the truck, your GST position, and whether ownership matters. Here are the main options and what each one means for your business.

Chattel mortgageMost popular

You own the truck from day one. Claim depreciation and interest as tax deductions. Best for GST-registered businesses using the truck over 50% for business purposes.

Finance lease

Lender owns it, you use it. Fixed lease payments, fully deductible as expenses. Good if you prefer to upgrade equipment at end of term rather than hold the asset long-term.

Commercial hire purchase

Hire now, own at the end. Fixed repayments over the term, ownership transfers on final payment. Interest is deductible, a solid middle ground between the two above.

Low-doc truck loan

No full financials required. For owner-operators and self-employed borrowers. Typically just needs ABN, GST registration, and 6-12 months of bank statements.

Novated lease

Pay from pre-tax salary. Suited to employees financing a ute or light commercial via salary packaging. Reduces taxable income, as your employer makes repayments on your behalf.

Sale and leaseback

Already own it? Free up cash. Sell your truck to a lender and lease it straight back, unlocking working capital without losing access to the vehicle your business depends on.

Typical scenarios

3 typical truck finance scenarios

From a first light rigid to a spec-build prime mover, here's how the numbers typically look across different purchase sizes, with the finance structure best suited to each.

Entry level
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$65,000
Isuzu NLR light rigid — used, 3 yrs old
TypeChattel mortgage
Term5 years
Rate (est.)7.9% p.a.
DepositNone required
Approval pathLow doc
Estimated monthly repayment
~$1,315
approximately $303 per week
Small trades or courier business
First vehicle purchase, approved on ABN and 12 months bank statements.
Mid range
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$220,000
Volvo FH prime mover — used, 5 yrs old
TypeFinance lease
Term5 years
Rate (est.)8.5% p.a.
Deposit10%
Approval pathFull doc
Estimated monthly repayment
~$4,510
approximately $1,041 per week
Owner-operator, interstate freight
Lease payments fully deductible. Option to upgrade at end of term.
High end
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$480,000
Kenworth T610 SAR — new, spec build
TypeChattel mortgage
Term7 years
Rate (est.)7.4% p.a.
DepositNone required
Approval pathFull doc
Estimated monthly repayment
~$7,290
approximately $1,683 per week
Mid-size transport or construction firm
Full financials, strong credit. GST input tax credit claimed upfront on next BAS.

Indicative repayments only. Actual rates depend on your profile, lender, and product. Speak to our team for a tailored quote.

Repayment calculator

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Adjust the sliders to estimate your repayments. Speak with our team for an exact quote based on your profile.

Loan amount $150,000
Loan term 5 years
Interest rate 7.9% p.a.
Repayment frequency
Estimated repayment
$3,034
per month
Loan amount$150,000
Total interest$32,057
Total repayable$182,057
Number of repayments60
Get an exact quote →
Indicative only. Actual repayments vary based on lender, credit profile, and fees.
Structure recommender

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Answer 4 quick questions and our recommender will suggest the best finance structure for your situation, instantly, with no phone call needed.

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4 questions · Takes about 30 seconds · Instant recommendation

Question 1 of 4

Is your business registered for GST?

New vs used

New versus used: what changes with finance?

Both are fully financeable, but lenders treat them differently. The right choice depends on your cash flow, tax position, and how long you plan to hold the asset.

New trucks
Used trucks
New trucksLower rates
Better rates and longer termsNew vehicles are lower risk for lenders; you'll typically access rates from 6.5% p.a. and terms up to 7 years, meaning lower monthly repayments on higher values.
Instant asset write-off eligibilityUnder current ATO rules, eligible businesses can write off the full cost in the year of purchase via a chattel mortgage, a significant tax advantage for profitable businesses.
GST claimed upfront on your BASGST-registered businesses claim the full GST on the next BAS rather than spreading it across the loan. On a $300k truck that's $27k back in your hands fast.
Dealer purchases settle fastestDealer transactions clear in 2 to 3 business days from approval to funds, the cleanest and quickest path to getting your new truck on the road.
Used trucksAge caps apply
Most lenders finance up to 15 years oldAge at the end of term is the key figure lenders look at. Some specialist lenders go beyond this for strong borrowers; ask before ruling any vehicle out.
High-km vehicles are still financeableKilometres affect rate and term, not eligibility outright. We match you to lenders with the right appetite for your vehicle's condition and age.
Private sale adds steps but is doablePrivate sale financing involves more documentation and sometimes a vehicle inspection. Factor in a few extra days versus a dealer purchase; start the conversation with us early.
Balloon payments reduce monthly outlayA residual or balloon keeps monthly repayments lower, useful if cash flow is tight right now. It means a lump sum at end of term, or a straightforward refinance.
Tax benefits

Tax benefits of financing a truck in Australia

Structured correctly, truck finance is one of the most tax-effective ways to acquire a business asset. Here's what you can typically claim and why structure matters.

01
Interest deductions on chattel mortgage
The interest component of each repayment is deductible as a business expense, reducing your taxable income across the full loan term. Combine this with depreciation and the real cost of financing is significantly lower than the headline rate.
02
Depreciation and instant asset write-off
As the owner of the truck under a chattel mortgage, you claim depreciation annually. When temporary full expensing rules apply, eligible businesses can write off the full cost of a new or used truck in the year of purchase.
03
GST input tax credit claimed upfront
GST-registered businesses can claim the full GST on the truck price on their next BAS, not spread across repayments. On a $300,000 purchase that's $27,272 back in your cash flow quickly, not slowly over 5 years.
04
Full lease payment deductible under a finance lease
Under a finance lease, the entire lease payment (not just the interest component) is typically deductible as a business expense. This can be advantageous depending on your income level and overall tax position.
05
FBT considerations for mixed-use vehicles
If the truck is used for both business and personal purposes, fringe benefits tax rules apply. We recommend aligning your finance structure with your accountant from the start; we're happy to work alongside them to get it right.
Eligibility

Who qualifies for truck finance in Australia?

Most Australian businesses with an ABN can access truck finance, including owner-operators, self-employed borrowers, and those with imperfect credit histories.

Self-employed with no tax returns?
Low-doc lenders accept bank statements and BAS instead of full financials. Six to 12 months of trading history is often enough; we'll tell you which pathway fits your situation.
ABN & GST registration
An active ABN is required. GST registration is typically needed for vehicles over $75,000 to claim the input tax credit on the purchase price.
Credit history
Good credit opens more lenders and lower rates. Adverse credit is not an automatic disqualifier; we work with specialist lenders who handle impaired profiles regularly.
No property required
Truck finance is asset-secured. You don't need to put your home on the line; the truck itself is the collateral in most structures.
Used trucks: age and km caps
Used trucks are absolutely financeable. Lender caps on age and kilometres vary; we know which lenders are flexible on older or high-km vehicles.
Startups and new operators
Less than 12 months trading? Some specialist lenders consider new businesses with a strong asset position or prior industry experience. Talk to us before assuming you won't qualify.
How it works

Pre-approved in 4 simple steps

1

Submit your details

Fill in the quick form above. No credit check, no commitment. Takes about 2 minutes.

2

We compare lenders

A specialist matches you to the best lender from our panel of 50+ based on your situation.

3

Get pre-approved

Pre-approval in as little as 24 hours so you know your budget before you shop.

4

Settle and drive

We handle the paperwork. Once settled, the truck is yours and you're on the road.

Get a free quote →
No credit check · Takes 2 minutes · Pre-approval in 24 hours
FAQ

Truck finance FAQ

What types of trucks can EasyAsset finance?+
We finance all commercial truck categories including prime movers, rigids, tippers, crane trucks, refrigerated vehicles, curtain-siders, flatbeds, and light commercials. Both new and used, from all major brands including Kenworth, Volvo, Mercedes, Isuzu, Hino, MAN, and DAF.
Do I need a deposit to get truck finance?+
No deposit is required for many applicants. Some lenders require a deposit on older vehicles or for borrowers with limited trading history. Our team structures deals to minimise upfront costs wherever possible.
Can I get truck finance if I am self-employed with no recent tax returns?+
Yes. We have low-doc pathways that use bank statements, BAS, and sometimes an accountant's declaration instead of full financials. Many of our lenders specifically cater to owner-operators and self-employed borrowers.
How quickly can truck finance be approved?+
Pre-approval can often be issued within 24 hours of a complete application. Full settlement typically takes 2 to 5 business days depending on the lender and documentation turnaround.
What is the difference between a chattel mortgage and a finance lease for trucks?+
With a chattel mortgage you own the truck from day one and can claim depreciation and interest as deductions. With a finance lease the lender retains ownership and you deduct the full lease payment. The right choice depends on your GST position and whether you want to upgrade at end of term.
Can I finance a truck purchased privately?+
Yes, private sale financing is available, though it involves additional steps and sometimes a vehicle inspection.
Why use a specialist truck finance broker instead of going to a bank?+
Specialist brokers like EasyAsset work exclusively with lenders who understand truck valuations, operator cash flow cycles, and commercial transport assets. That means faster approvals, better rates, and structures that match how your business earns.
What makes EasyAsset different from other truck finance brokers?+
We compare 50+ lenders in a single application, including specialist truck and commercial vehicle lenders that do not appear on comparison sites.
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